BMO Capital Markets Boosts Hexcel (HXL) Price Target to $84.00

Hexcel (NYSE:HXL) had its price objective lifted by BMO Capital Markets to $84.00 in a report issued on Wednesday morning, The Fly reports. The firm currently has an outperform rating on the aerospace company’s stock.

A number of other brokerages have also recently commented on HXL. Cowen restated a buy rating and issued a $75.00 price target on shares of Hexcel in a research report on Wednesday, April 24th. ValuEngine upgraded Hexcel from a hold rating to a buy rating in a research report on Wednesday, January 30th. Zacks Investment Research upgraded Hexcel from a hold rating to a buy rating and set a $79.00 price target for the company in a research report on Friday, February 15th. Loop Capital cut Hexcel from a buy rating to a hold rating and set a $71.57 price target for the company. in a research report on Wednesday, March 6th. Finally, Bank of America restated a buy rating and issued a $90.00 price target (up previously from $80.00) on shares of Hexcel in a research report on Friday, April 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company. Hexcel has an average rating of Hold and an average price target of $77.06.

Shares of HXL opened at $74.13 on Wednesday. The company has a debt-to-equity ratio of 0.85, a current ratio of 2.24 and a quick ratio of 1.28. The stock has a market capitalization of $6.29 billion, a price-to-earnings ratio of 24.30, a P/E/G ratio of 2.07 and a beta of 1.18. Hexcel has a 52 week low of $53.50 and a 52 week high of $75.00.

Hexcel (NYSE:HXL) last issued its quarterly earnings results on Tuesday, April 23rd. The aerospace company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. The business had revenue of $609.90 million during the quarter, compared to analysts’ expectations of $590.13 million. Hexcel had a return on equity of 20.63% and a net margin of 12.71%. The business’s quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.68 earnings per share. As a group, research analysts anticipate that Hexcel will post 3.46 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Friday, May 3rd were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.81%. The ex-dividend date of this dividend was Thursday, May 2nd. Hexcel’s dividend payout ratio is currently 19.67%.

In related news, insider Brett Raymond Schneider sold 2,210 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $70.30, for a total transaction of $155,363.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thierry Merlot sold 3,241 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $71.00, for a total value of $230,111.00. The disclosure for this sale can be found here. Insiders have sold 34,698 shares of company stock valued at $2,469,248 in the last quarter. 1.40% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its holdings in Hexcel by 11.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 543,566 shares of the aerospace company’s stock valued at $36,446,000 after buying an additional 55,730 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in Hexcel during the 4th quarter valued at approximately $973,000. CWM LLC grew its holdings in Hexcel by 139.6% during the 4th quarter. CWM LLC now owns 520 shares of the aerospace company’s stock valued at $30,000 after buying an additional 303 shares in the last quarter. Cascade Investment Advisors Inc. purchased a new position in Hexcel during the 4th quarter valued at approximately $29,000. Finally, Quantamental Technologies LLC purchased a new position in Hexcel during the 4th quarter valued at approximately $155,000. Hedge funds and other institutional investors own 94.30% of the company’s stock.

About Hexcel

Hexcel Corporation, together with its subsidiaries, develops, manufactures, and markets structural materials for use in commercial aerospace, space and defense, and industrial markets. It operates in two segments, Composite Materials and Engineered Products. The Composite Materials segment manufactures and markets carbon fibers, fabrics and specialty reinforcements, prepregs and other fiber-reinforced matrix materials, structural adhesives, honeycomb, molding compounds, tooling materials, polyurethane systems, and laminates that are used in military and commercial aircraft, wind turbine blades, recreational products, and other industrial applications, as well as in cars, boats, and trains.

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